CBSE Class 12 Financial Statements of a Company Multiple Choice Questions with Answers. MCQ Questions Class 12 Financial Statements of a Company with Answers Is Prepared Based on Latest Exam Pattern. Students can solve NCERT MCQ questions Class 12 Financial Statements of a Company with Answers to know their preparation level.
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MCQ Questions Class 12 Financial Statements of a Company with Answers - Set - 3
Question 1:
Which of the following assets is not shown undeer the head ‘Fixed Asset’ in the Balance Sheet ?
(a) Goodwill
(b) Bills Receivable
(c) Buildings
(d) Vehicle
Correct Answer – (B)
Question 2:
Goodwill of a company is shown on the assets side of the Balance Sheet under the head.
(a) Current Assets
(b) Non-current Assets
(c) Miscellaneous Expenditure
(d) None of these
Correct Answer – (B)
Question 3:
According to which part of Schedule III of the Indian Companies Act, 2013, Indian companies have to prepare Balance Sheet:
(a) Part 1
(b) Part 2
(c) Part 3
(d) Part 4
Correct Answer – (A)
Question 4:
Current Assets on the Assets side of Balance Sheet of a Company includes:
(a) Sundry Debtors
(b) Cash in hand
(c) Stock
(d) All of these
Correct Answer – (D)
Question 5:
Which of the following is not a part of financial statement of a company ?
(a) Profit & Loss A/c
(b) Balance Sheet
(c) Ledger Account
(d) Cash Flow Statement
Correct Answer – (C)
MCQ Questions Class 12 Financial Statements of a Company With Answers
Question 6:
The form of Balance Sheet as per Companies Act, 2013 is:
(a) Horizontal
(b) Horizontal or Vertical
(c) Vertical
(d) None of these
Correct Answer – (C)
Question 7:
Balance sheet of companies is now prepared in :
(a) Horizontal Form
(b) Vertical Form
(c) Either (a) or (b) Form
(d) None of these
Correct Answer – (B)
Question 8:
As per provisions of Companies Act, 2013 under which Section, the final accounts of a company is prepard :
(a) 128
(b) 210
(c) 129
(d) 212
Correct Answer – (C)
Question 9:
Under which heading of Balance Sheet is general reserve shown:
(a) Miscellaneous Expenditure
(b) Share Capital
(c) Reserves & Surplus
(d) None of these
Correct Answer – (C)
Question 10:
The term current assets includes :
(a) Stock
(b) Debtors
(c) Cash
(d) All of these
